Medical Office Space with
New
For Sale
$649,000
2128-2130 State Road 16, La Crosse, WI 54601
Y, La Crosse, WI
Property Size6,298 SF
Lot Size0.49 Acres
Price / SF$103.05
Days on Market2
Property Features for 2128-2130 State Road 16
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Directions
Frontage Road on State Road 16 between Onalaska and LaCrosse.
Standard status
Active
APN
017010475020
Size
6,298 SF
Lot size
0.49 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
12371
Building Details
Year built
1947
Architectural style
Other
Listing Agency:
RE/MAX Results · RE/MAX International
(608) 781-7629
Listed By:
Michael Richgels · License #505790
(608) 781-7669
Added: Sep 3
Changed: Sep 4
Last Checked: Sep 4 at 3:06PM
MLS# 1979179
Copyright © 2026 Metro MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 6,298-square-foot medical office property was built in 1947 and is configured for clinical and administrative functions. The existing layout includes multiple exam rooms and dedicated work areas that can support office or conference uses. An apartment occupies the upper level, adding a residential component to the building, while garage parking and a large paved lot serve visitors and employees.
The property sits at 2128-2130 State Road 16 in La Crosse, Wisconsin, with reported visibility to 34,000 vehicles per day. The 0.49-acre site combines a medical office building, upper-level residential space, garage parking, and on-site paved parking in one commercial setting.
The property sits at 2128-2130 State Road 16 in La Crosse, Wisconsin, with reported visibility to 34,000 vehicles per day. The 0.49-acre site combines a medical office building, upper-level residential space, garage parking, and on-site paved parking in one commercial setting.
Key Highlights
- 6,298 SF medical office property on a 0.49‑acre site
- Reported visibility to 34,000 vehicles per day
- Existing clinic layout with several exam rooms and work areas
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$56,493
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.70%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,129,860
$1.1M
Cap Rate 7%
$807,043
$807.0K
Cap Rate 9%
$627,700
$627.7K
Market Conditions
NOI Build-Up for 6,298 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$98.2K $15.60/SF
− Vacancy
−$7.9K −$1.25/SF
EGI
$90.4K $14.35/SF
− OpEx
−$33.9K −$5.38/SF
NOI
$56.5K $8.97/SF
Area
La Crosse County, WI
Vacancy
8.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,129,860
Cap Rate 7%
$807,043
Cap Rate 9%
$627,700
Alternative Uses
Best Use
Healthcare Medical
$1.24M
$1.09M – $1.45M
NOI $87,132 @ 7.0% cap · market cap 13.43%
Second Best
Office B
$947.4K
$829.0K – $1.11M
NOI $66,318 @ 7.0% cap · market cap 10.22%
Theoretical Best
Specialty Retail
$1.38M
$1.21M – $1.61M
NOI $96,416 @ 7.0% cap · market cap 14.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
89
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 54601, WI
51,090
Population
22,652
Households
2.3
Avg Household Size
32
Median Age
40%
College-Educated
96%
High-School Grad
75.4 sq mi
ZIP Area
678
Density / Sq Mi
$60,078
Median Household Income
$31,143
Median Earnings
$998
Median Rent
$220,200
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- La Crosse Veterinary Clinic — 2128 WI-16, La Crosse, WI 54601
- Mark Mattison, DVM — 2128 WI-16, La Crosse, WI 54601
Frequently Asked Questions
What type of property is this?
Medical Office Space - Existing clinic improvements include exam rooms, work areas, garage parking, and a paved customer and employee lot.
Where is this medical office space located?
The property is located at 2128-2130 State Road 16 La Crosse, WI.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: 6,298 SF medical office property on a 0.49‑acre site; Reported visibility to 34,000 vehicles per day; Existing clinic layout with several exam rooms and work areas
